James Bond studio Pinewood's sale to private equity house gets green light from Financial Conduct Authority

Caitlin Morrison
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The Duke Of Cambridge And Prince Harry Visit The 'Star Wars' Film Set
Prince William visits the Star Wars set at Pinewood Studios (Source: Getty)

The iconic studio behind some of the biggest blockbusters of recent years - including the latest James Bond and Star Wars films - is closer to being sold to a private equity fund after getting the approval of the City watchdog.

Pinewood Group, the owner of Pinewood Studios, recommended a £323.3m offer from Aermont Capital - or more specifically, PW Fund III - earlier this month.

The London-listed company announced today that the Financial Conduct Authority (FCA) has given the deal the green light. The transaction must now be approved by Pinewood's shareholders at a general meeting on 19 September.

Pinewood first revealed that it was seeking a buyer in February this year, when it appointed Rothschild to conduct a strategic review of the company, with the possibility of an eventual sale.

Meanwhile, in July the group said an 11 per cent uptick in profit had been driven by a combination of Brexit, Star Wars and James Bond.